Prasol Chemical IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Aug 30, 2023Prasol Chemicals Limited is among the leaders in the manufactures of acetone derivatives and phosphorous derivatives in India.
With the Prasol Chemical IPO, the company is gearing up to garner funds from the general public.
In this Prasol Chemical IPO Review, we have every topic of your interest that will guide you in analysing the potential of the company and the profitability of the proposed shares for you.
An IPO can be a thriving opportunity for investors and traders.
But before investing, it is important to first accommodate a reliable resource which can avail all necessary information. So, continue reading and we will take you through this IPO.
| Face Value | Rs 2 |
| Price Band | Not Disclosed |
| Listing At | BSE, NSE |
| Min. Order Quantity | Not Disclosed |
| Listing Date | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | 250 Crores |
| IPO Size | Not Disclosed |
| Tick Size | 1 |
Prasol Chemical IPO Overview
Prasol Chemical IPO is going to be a combination of fresh issue and an offer for sale.
Through the offer for sale, some of the promoters will be offloading their shares and will be offered to the public on the price determined through the book-building process.
The IPO will be of about Rs. 800 crores and will accommodate the company with the suitable resources to achieve their objectives.
Prasol Chemical IPO Important Dates
| Events | Date |
| IPO Opening Date | Not Disclosed |
| IPO Closing Date | Not Disclosed |
| Basis of Allotment Finalization | Not Disclosed |
| Refunds Initiation | Not Disclosed |
| Credit of Shares to Demat Account | Not Disclosed |
| Share Listing Date | Not Disclosed |
The company has filed its DRHP documents with the market regulator, SEBI a few days back and now just waiting for the approval for the same.
Once the DRHP is approved, the company will file the further documents and proceed towards the IPO and will also determine the Prasol Chemical IPO dates.
Dates of an IPO have an influencing impact on the success of the IPO. Therefore, the dates are decided after due consideration to all the factors.
Prasol Chemical IPO Price, Size, Share Offerings
| Face Value | Rs.1 |
| Price Band | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | 250 Crores |
| IPO Size | Not Disclosed |
Prasol Chemical IPO Size and Prasol Chemical IPO Price will be determined through the book-building process.
The IPO size will comprise of the shares offered through the fresh issue and offer for sale. It will be the number of shares that will be listed on the stock exchanges.
IPO Price will the price at which the shares will be offered to the bidders except anchor investors. It will be determined through the Book Building Process where bidders will place their bids within the price band.
Prasol Chemical IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| Not Trading in Grey Market yet | |||
Grey Market is a market where the shares of the issuer company are traded in before the opening of the IPO. It works as a yardstick in the stock price determination process.
Grey Market Premium is the profit upon the shares traded in the Grey Market. Investors and traders observe the GMP and to analyze and estimate the listing price of the shares.
Prasol Chemical IPO GMP is not available yet as the company is in the early stage of the IPO.
Prasol Chemical IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
Subscription is the process where the prospective shareholders place bids for the allotment of shares. The investors are divided into several categories and a fixed fraction is reserved for each category.
Prasol Chemical IPO Subscription is not open for bids as of now. The company has filed the preliminary papers with SEBI and is undertaking the further procedure to successfully implement the Initial Public Offering.
The objectives of the IPO are specified in the Draft Red Herring Prospectus.
Prasol Chemical IPO Allotment Status
Prasol Chemical IPO Allotment will take place after all the bids have been received from the public. The company in consultation with the lead managers will determine the share price and will allot the shares to the successful bidders.
The shares will be allotted to the successful bidders and the money will be refunded to the bidders whose application is not accepted in the Prasol Chemical IPO.
Prasol Chemical IPO Live Performance
To know more and check out the Prasol Chemical IPO Live Performance, go to the given link. Here, you find the latest Prasol Chemical IPO Price updates.
Subscribe to Prasol Chemical IPO – Open Free Demat Account Now!
Prasol Chemical – Company Review
The company was incorporated in the year 1992 as Prachi Poly Products Private Limited.
The company has undertaken change in its name from Prachi Poly Products Private Limited to Prasol Chemicals Limited to better interpret their business to their customers.
Also, the company has converted its company status from private to public and vice-versa. The first such conversion took place in the year 1994 where the company was converted to a public limited company.
Thereafter, it re-converted itself to a private company in 2016. And subsequently in 2021, in pursuance of the IPO, the company was converted to a public company in December. The company is situated in Mumbai, India.
Products or Services
Prasol Chemicals limited is a specialty chemicals company which has a diverse product portfolio and is catering to various sectors.
The company is Government-certified Two Star Export House which has taken forward its business operations to international markets.
Prasol Chemicals is a manufacturer of Acetone based specialty chemicals, Phosphorous based specialty chemicals and such other specialty chemicals.
The product portfolio of the company consists of over 75 specialty products designed and curated to suit the customers’ requirements.
Also, it has 32 products which are in the processing and will be offered in the market soon.
Promoters and Holding
The promoters of the company are:
- Nishith Rajnikant Shah
- Gaurang Natwarlal Parikh
- Dhaval Nalin Parikh
- Pankil Nishith Dharia
- Sachin Jatin Parikh
- Rakesh Gupta
- Nishith Rasiklal Dharia
- Kunal Tushar Dharia
- Suketu Navinchandra Parikh
The management of the company comprises of:
- Nishith Rajnikant Shah in the position of Chairman and Whole-time Director
- Gaurang Natwarlal Parikh in the position of Managing Director
- Dhaval Nalin Parikh in the position of Joint Managing Director
- Pankil Nishith Dharia in the position of Whole-time Director – Strategy and Business Development
- Hitesh Harendrakumar Sheth in the position of Chief Financial Officer
Is Prasol Chemical good for Investment?
Prasol Chemicals IPO will comprise of a fresh issue of up to Rs 250 crore and offer for sale for up to 90,00,000 equity shares. With the IPO, the company is expecting to urge funds of about Rs. 800 crores.
The receipts received from the offer for sale shares will be given to the selling shareholders and the proceeds of fresh issue will be received by the company to fulfil their objectives.
With the help of proceeds, Prasol Chemicals Limited will repay or prepay in respect of their outstanding debts, will fulfil its working capital requirements and utilize it for other general corporate purposes.
Prasol Chemical Financial Statements
| Amount (in INR & Million) | ||||
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Assets | 5,811.45 | 5,497.22 | 4,636.43 | 4,120.72 |
| Revenue | 6,321.85 | 6,021.36 | 5,347.15 | 4,988.74 |
| Expense | 5,649.54 | 5,683.46 | 4,908.47 | 4,606.59 |
| Profit After Tax | 500.96 | 250.84 | 377.74 | 237.20 |
Prasol Chemicals Limited is a profit making company and has been securing profitable results every year.
The company revenues has shown an upward rise over the years. The total revenue of the years 2019, 2020 and 2021 were – 4,988.74 million, 5,347.15 million and 6,021.36 million respectively.
And the profits for 2019, 2020 and 2021 were – 382.15 million, 438.68 million and 337.90 million respectively.
The company is growing and expanding its scale of operations with the passage of time. It started with a small unit and today it is serving across 45 countries.
| Earnings per Equity Share (in Million) | ||||
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | 34.55 | 17.30 | 26.05 | 16.36 |
Prasol Chemical IPO Review
Prasol Chemicals Limited has a long strong standing in the market and operates in a specialty industry. The company is undisputedly among the leading entities in the specialty manufacturing business.
It is a forward integrated unit. Prior to the issue, the company might also consider a pre-placement of up to Rs. 50 crores and is such placement is successful, the size of the issue will be reduced to such amount.
Prasol Chemical IPO Details
Here are few more details you need to know before investing in Prasol Chemical IPO –
Prasol Chemical IPO Issue Object
Prasol Chemical has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Repayment/ prepayment, in full or part, of certain borrowings availed of by our Company;
- Funding working capital requirements of our Company; and
- General corporate purposes.
Prasol Chemical IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Among the leading fo-rward integrated manufacturers of acetone derivatives and phosphorous derivatives in India;
- Focus on research an-d development enabling diversified product portfolio and customised customer solutions;
- Long standing relationships with a diversified customer base;
- Strong global presence;
- Focus on long term sustainability through various environmental friendly initiatives;
- Experience of the Promoters and senior management team; and
- Consistent financial performance
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 17.30 | 13.92 | 124.29 |
| 31-Mar-20 | 26.05 | 24.31 | – |
| Mar-19 | 16.36 | 19.97 | – |
Prasol Chemical IPO Lead Managers
Here are the list of Lead managers –
- JM Financial Limited
- DAM Capital Advisors Limited
Prasol Chemical IPO Registrar to offer
Check out the details of registrar here –
KFin Technologies Limited
(formerly known as K Fin Technologies Private Limited)
Selenium, Tower-B, Plot 31 & 32, Financial District,
Nanakramguda, Serilingampally
Hyderabad, Rangareddi 500 032, Telangana, India
Tel: +(91 40) 6716 2222 / 1800 309 4001
E-mail: pcl.ipo@kfintech.com
Investor grievance e-mail: einward.ris@kfintech.com
Website: www.kfintech.com
Contact person: M. Murali Krishna
SEBI registration no.: INR000000221
Prasol Chemical IPO – Other Details
- Statutory Auditor – C N K & Associates LLP, S. V. Shanbhag & Co.
- Legal Counsel to the Company – Trilegal
- Bankers to the Company – DBS Bank India Limited, HDFC Bank Limited, IDBI Bank Limited, Kotak Mahindra Bank Limited, Standard Chartered Bank, Union Bank of India, Citicorp Finance India Ltd and Citibank N.A
Prasol Chemical IPO – Conclusion
The Prasol Chemicals IPO is a wonderful opportunity for the company to ensure its stability in the long run and widen its scale in the national and international market.
It might also turn out to be a profitable deal for the investors as the company offers a diversified product portfolio and caters to a variety of sectors.
To Subscribe to Prasol Chemical IPO – Open Demat Account Now!
Prasol Chemical IPO Review FAQs
Check out the FAQs on Prasol Chemical IPO –
What is the Issue Size of Prasol Chemical IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Prasol Chemical IPO?
The price band for this particular IPO ranges between NA. As far as the face value of the share is of concern, it is Rs.2 per share.
What is the Prasol Chemical IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the Prasol Chemical IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Prasol Chemical IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Prasol Chemical IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Prasol Chemical IPO?
Here are the promoters of this IPO – NISHITH RAJNIKANT SHAH, GAURANG NATWARLAL PARIKH, DHAVAL NALIN PARIKH, PANKIL NISHITH DHARIA, SACHIN JATIN PARIKH, RAKESH GUPTA, NISHITH RASIKLAL DHARIA, KUNAL TUSHAR DHARIA, AND SUKETU NAVINCHANDRA PARIKH. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Prasol Chemical IPO?
They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Prasol Chemical IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Prasol Chemical Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is 250.84, 2020 is 377.74, 2019 is 237.20. PAT from Dec 2021 is 500.96.
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